NeoGenomics: 4Q Earnings Snapshot
FORT MYERS, Fla. (AP) _ NeoGenomics Inc. (NEO) on Tuesday reported fourth-quarter profit of $353,000.
The Fort Myers, Florida-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The operator of cancer-focused testing laboratories posted revenue of $76.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $70.4 million.
For the year, the company reported net income of $2.6 million, or 7 cents per share, swinging to a profit in the period. Revenue was reported as $276.7 million.
NeoGenomics expects full-year revenue in the range of $379 million to $395 million.
NeoGenomics shares have increased 40 percent since the beginning of the year. The stock has more than doubled in the last 12 months.